New businesses in January register record high capital

Nearly 8,300 new enterprises were established in January, a sharp decline from the total for the same month of last year, but they committed the largest amount of capital in the past four years.

Data from the General Statistics showed that there were 8,276 new businesses established in the first month of 2020, which registered total capital of VND267.2 trillion (US$11.5 billion), a surge of 76.8% year-on-year.

They are also expected to employ around 84,500 workers. The average registered capital of the newly established enterprises was VND32.3 billion (US$1.4 million), more than double that in the previous year.

If the VND234.2 trillion in additional financing to 3,652 existing enterprises is counted, the total capital injected into the economy in January stands at VND501.4 trillion (US$21.7 billion).

The first month of 2020 also saw 8,470 enterprises resume their operations.